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When President Peter Mutharika came to power in 2014, he inherited a country mired in the cash gate scandal, rising inflation, and the withdrawal donor funding, which left a 40 percent gap in the country’s budget.
When President Peter Mutharika came to power in 2014, he inherited a country mired in the cash gate scandal, rising inflation, and the withdrawal donor funding, which left a 40 percent gap in the country’s budget.Against this backdrop, Mutharika’s government implemented stringent public finance management.
These measures helped Malawi back on its feet and gained applause from international finance organizations for its resilience.
Malawi today aspires to attain a middle-income status by 2020, but significant challenges still stand in its way.
Agriculture currently contributes to 80% of Malawi’s export. But this sector is highly vulnerable to the recurrent droughts and floods.
To achieve its Vision 2020, Malawi must diversity its economy.
The country is now focusing on developing tourism, realizing industrialization and revamping its mining sectors.
